24 Quotes by Steven Milunovich

We believe that this services review -- due to complete in mid-August -- is necessary, but will again detract from the main goal of increasing revenue just as the sales force realignment did in previous quarters,

This transaction does not appear to be unusual.

The press writes about questionable practices such as excluding option expense from the income statement and the use of pro forma earnings, but few calculate the earnings impact.

The good news is that tech is getting oversold and could stage a rally, but we doubt the rally would last long.

Beyond Y2K, IBM's hardware business, PCs and storage servers, it's not been acting well. They are not a leader in many of those product lines. I think they still have more work to do to get into the position where the entire company can then grow at double digits.

Tech valuations have fallen by about one-third since early-September. Although technology stocks are not at bargain basement prices, semis, communication equipment, and hardware are trading at the lower end of their five-year ranges. These sectors are also looking attractive relative to the S&P 500. Wireless, storage, and software remain expensive.

Tepid company guidance makes us cautious in extrapolating.

This is the best tech durable goods report we have seen in a while. The book-to-bill increased to 1.07, the best figure since September, while the inventory-to-shipment ratio was flat at 1.14.

This contrasts with some surveys that find flat to down spending in 2002. We wouldn't split hairs; our conclusion is that users see a modest pickup.